After a year of negotiations, the final contract was signed in December of 1999. The theme park and hotels would cost USS1.8 billion to construct over six years. In addditon, US1.7billion would be spent for land reclamation as no other suitable location was available in the densely populated territory. The park would be situated on Penny’s Bay of Lantau Island, the largest of Hong Kong’s outlying islands. The Hong Kong Government and Disney would invest US416 million and Us314 million, respectively. In return, Disney held a 43 per cent stake in HKD, and the government held the remaining 57 per cent, which could later be increased to 73 per cent by converting subordinate shares. A further US$1.1 billion was put up in the form of government and commercial loans.